28/05/2019

Funding to safeguard quarry materials and support the minerals sector

The Victorian Budget 2019/20 was handed down on Monday 27 May. New funding will help access to the state's quarry resources, nearer to where it is needed most.

The Victorian Budget 2019/20 was handed down on Monday 27 May.

New funding will help access to the state's quarry resources, nearer to where it is needed most. This work is focused on helping keep the cost of new infrastructure and housing down.

Transporting heavy materials, such as rock, sand and stone, is expensive and if the distance between quarries and build sites increases then infrastructure will be less affordable. On average building raw materials make up 35% of construction costs and up to 40% for major roads.

Our work to support new infrastructure and housing is outlined in the Extractive Resources Strategy.

New funding will support our growing minerals exploration and mining sector, and encourage innovation in the broader Mining, Equipment, Technology and Services (METS) sector. It will also fund the development of a community benefit scheme aimed at building confidence in communities regarding the responsible development of local mining activities.

Our work to support the minerals and METS sectors is outlined in the Minerals Resources Strategy.

In the 2019-20 Victorian State Budget the government announced that gold mining production will be subject to a royalty of 2.75 per cent from 1 January 2020, with an exemption for gold production less than 2,500 ounces a year.

Licensing fees and charges includes information about current (2019) royalties.

Contact: Lewis Hill

Phone: (03) 8392 6735